Who is the developer of Riga Waterfront?
Eagle Hills is an international real estate developer based in Abu Dhabi, UAE, founded in 2014. The company is led by Mohamed Alabbar — founder of Emaar Properties and the visionary behind Burj Khalifa, Dubai Mall and multiple waterfront developments across Europe, the Middle East and Africa.
Who is Mohamed Alabbar and what is his connection to Riga Waterfront?
Mohamed Alabbar is one of the world's most prominent real estate entrepreneurs, known for developing Burj Khalifa and the Dubai Mall through Emaar Properties. He founded Eagle Hills in 2014 to focus on large-scale waterfront and urban regeneration projects globally. Riga Waterfront is one of his flagship European developments.
Where is Riga Waterfront located?
Riga Waterfront is located in the historic Andrejsala district, directly on the banks of the Daugava River — adjacent to Riga's prestigious Quiet Centre. The Old Town (Vecrīga) is a 15–20 minute walk or 5 minutes by car. Riga International Airport (RIX) is approximately 20 minutes away by car.
What are the advantages of the Andrejsala district?
Andrejsala is a former industrial port area undergoing complete transformation into a world-class urban district. Its location directly on the Daugava River, proximity to the Old Town and city centre, and large-scale regeneration potential make it one of the most strategically valuable addresses in the entire Baltic region.
What property types are available at Riga Waterfront?
The development offers 1, 2, 3 and 4-bedroom apartments, as well as penthouses with private terraces. Units range from compact one-bedroom layouts to expansive riverfront penthouses. All residences feature floor-to-ceiling windows, private balconies or terraces, and premium finishes.
Are penthouses available at Riga Waterfront?
Yes, a limited selection of penthouses with panoramic river views and private rooftop terraces are available. These are the most exclusive residences in the development and are typically the first to sell. Contact us for current availability and pricing.
How much do the apartments cost? What is the starting price?
Apartments at Riga Waterfront are available in 1, 2, 3 and 4-bedroom configurations, including penthouses. Prices vary depending on the floor, view, size and phase — and are provided on request. Prices are subject to change at each construction milestone. Contact us for the most current price list.
What payment plans are available?
Eagle Hills offers a flexible 20/80 payment plan: 5% at booking, 5% after 3 months, 10% after 8 months, and 80% on handover in 2027. This structure significantly reduces the initial financial commitment while securing your unit at today's price.
What currencies are accepted for payment?
Payments are processed in Euros (EUR), as Latvia is a Eurozone member state. International bank transfers are accepted from most countries. Our team can assist with currency conversion and payment logistics for buyers from Turkey, UAE, and other non-Eurozone countries.
Is mortgage financing available for international buyers?
Yes, several Latvian and international banks offer mortgage financing for foreign buyers, subject to standard creditworthiness criteria. Typical loan-to-value ratios are 60–70% for non-residents. Our team can connect you with trusted mortgage advisors familiar with the Riga market.
When will the project be completed?
The first residences at Riga Waterfront are scheduled for completion starting Q1 2027. The full masterplan spans approximately 57 hectares and will be developed in multiple phases over 10–15 years, continuously adding new residential, commercial and lifestyle components.
Can foreign buyers purchase property in Latvia?
Yes. Latvia, as an EU member state, allows foreign nationals — including non-EU citizens — to freely purchase real estate. The process is transparent, legally regulated, and title ownership is registered in the official Latvian Land Register, providing full legal protection.
Are there any restrictions for Turkish citizens buying property in Latvia?
No special restrictions apply to Turkish citizens purchasing property in Latvia. Turkey has diplomatic relations with Latvia and Latvian legislation permits citizens of most countries to own real estate. The purchase process is the same as for other international buyers.
What taxes apply when buying property in Latvia as a foreigner?
Buyers pay a one-time stamp duty of approximately 2% of the property value upon registration, plus a state notary fee. There is no VAT on residential property resales. Annual property tax is typically 0.2–0.6% of the cadastral value, which is usually significantly lower than market value.
Can property ownership lead to residency in Latvia?
Under current Latvian legislation, purchasing real estate above a threshold value may qualify non-EU citizens for a Latvian temporary residence permit, which grants access to the entire Schengen Area. Exact requirements depend on current regulations — our consultants can provide up-to-date legal guidance.
What is the minimum investment for EU residency in Latvia?
Under Latvian legislation, a temporary residence permit with free movement across the Schengen Area is available via two routes:
Property purchase — from €250,000 (residential or commercial). Riga Waterfront fully qualifies under this programme.
Business investment — from €50,000 to €100,000, depending on company size and number of jobs created.
We offer full support for both options. Our consultants will guide you through the details, and our legal partners will handle all documentation from start to finish.
Is Latvia in the Schengen zone?
Yes. Latvia is a full member of both the European Union and the Schengen Area. A Latvian residence permit allows visa-free travel and stays across all 27 Schengen member states, making it one of the most valuable residence permits available through property investment in Europe.
Is Riga Waterfront a good investment opportunity?
Riga Waterfront is widely considered one of the most compelling real estate investment opportunities in Northern Europe. Key factors include: a blue-chip developer (Eagle Hills), a unique riverfront location, limited supply of premium property in Riga, EU/Schengen legal framework, and a growing Baltic economy. Off-plan properties in Eagle Hills developments have historically delivered strong capital appreciation.
What is the expected rental yield at Riga Waterfront?
Premium properties in central Riga currently generate gross rental yields of 4–6% annually, with short-term rental platforms offering higher returns. Riga Waterfront, as a landmark development with marina and lifestyle amenities, is expected to command premium rents. Contact our investment team for a detailed ROI analysis.
How does Riga Waterfront compare to other Baltic real estate investments?
Riga Waterfront stands apart from typical Baltic investments due to its scale (57 ha masterplan), international developer pedigree, and waterfront location — factors rarely combined in the region. Compared to Tallinn or Vilnius, Riga still offers lower entry prices with comparable growth potential, making it attractive for value-focused international investors.
Can I resell my apartment before completion?
Yes, resale of off-plan units before completion (assignment of contract) is generally permitted. Eagle Hills developments have historically seen price increases between contract signing and handover, making early-phase purchases particularly attractive for investors looking to exit before or at completion.
Is remote purchase possible?
Yes. The entire purchase process — from unit selection and reservation to contract signing and payment — can be completed remotely. Official notarised documents can be signed with a power of attorney. Our team handles all coordination for international buyers and has experience working with clients from Turkey, UAE, UK, Germany and beyond.
Is Riga Waterfront suitable for permanent living?
Absolutely. The masterplan is designed as a complete urban neighbourhood with residential, commercial, retail, educational and recreational components. Residents will have access to a private marina, 5km of riverside promenades, restaurants, cafés, parks and all essential services within walking distance — making it ideal for year-round living.
What infrastructure will be available at Riga Waterfront?
The development will include a private marina, 5km waterfront promenade, 5-star hotels, a retail and dining boulevard, restaurants, cafés, schools, kindergartens, SPA and wellness centres, sports facilities, Class A offices, underground parking with EV charging stations, and extensive green parkland — all within the 15-minute city concept.
Is there parking available?
Yes. The development includes underground parking facilities for residents and visitors, equipped with electric vehicle charging stations. The underground parking approach keeps the ground level free for pedestrians, parks and public spaces.
What finish level are apartments delivered in?
Apartments are delivered with full finishes — flooring, fitted bathrooms, energy-efficient heating and cooling systems, and in most cases fitted kitchens. Smart home features are included in select units. Exact specifications vary by unit type and are detailed in the floor plan package.
What ecological standards are used at Riga Waterfront?
The project is built to high European sustainability standards, incorporating energy-efficient construction technologies, eco-friendly materials, solar energy elements, and green building certifications. The development is designed to meet or exceed EU environmental directives for new construction.
How far is Riga Waterfront from the beach?
Jūrmala — the famous Baltic Sea resort town with white sand beaches — is approximately 25–30 minutes by car or train from central Riga. While Riga Waterfront itself is on the Daugava River, residents can easily access Baltic Sea beaches for day trips year-round.
How does the reservation process work?
The reservation process is straightforward: choose your unit, sign a reservation agreement, and pay the initial 5% booking fee to secure your unit at the current price. Full purchase agreements are then prepared by legal counsel. Our team guides you through every step, including remote signing options for international buyers.
What is the Riga Waterfront masterplan area?
The Riga Waterfront masterplan covers over 57 hectares (approximately 141 acres) of prime riverfront land in the Andrejsala district. This makes it one of the largest urban regeneration projects in the Baltic states, comparable in scale to Belgrade Waterfront and other major Eagle Hills developments.
